Illinois considers changing due diligence requirements

Illinois S.B. 1470 would require holders to send owner notices via certified mail if property is valued at over $1,000. On April 7, UPPO submitted comments to Illinois Senate leadership regarding the bill's impact on holders. Specifically, encouraging Illinois to remove the certified mail requirement from the bill language or to only require holders to use certified mail owner notices for property valued at $3,000 or more, as using certified mail is a costly burden and there's no evidence that certified mail yields additional owner responses.

The bill was placed on the calendar for a second reading on March 16. UPPO is monitoring the bill.